OT-Does Brown's Resignation Enhance or Decrease PM's Values?

Tomohawk

I'm guessing a new gov't coming into one of the world's major powers will place additional upward pressure on PM's...at least for a little while. If truly conservative spending values begin to be applied (sorry, I just don't think this is likely but we can hope!), then it should start applying downward pressure...what say you?

mrearlygold

england is a major world power?

PreTurb

Re-arranging chairs on the Titanic...

Tomohawk

<< <i>england is a major world power? >>



I was kinda being deferential...they are still listed as a major power...just not a Superpower.

mrearlygold

<< <i>Re-arranging chairs on the Titanic... >>



More like re-arranging chairs on a smaller fishing boat.

It's what happens to all empires.

Justacommeman

The irony is that Gordon Brown was Finance Minister when he sold over half of Great Britian's gold at ...................$250-$300 an ounce or there abouts from 1999- 2002............poetic justice. MJ

How auctions cost taxpayer £7bn. (Now closer tp 8 billion)

•The price of gold has quadrupled since Gordon Brown sold more than half of England's reserves.
•The Treasury pre-announced its plans to sell 395 tons of the 715 tons held by the Bank of England, which caused prices to fall.
•The bullion was sold in 17 auctions between 1999 and 2002, with dealers paying between $256 and $296 an ounce. Since then, the price has increased rapidly
•The taxpayer lost an estimated £8 billion, twice the amount lost when England left the Exchange Rate Mechanism in 1992.
•The proceeds from the sales were invested in dollars, euros and yen. In recent years, most other countries have begun buying gold again in large quantities.

jmski52

Who's Gordon Brown, anyway?

sbeverly

Re-arranging chairs on the Titanic analogy is a good one. Often quoted by Doug Casey

They are in flail mode...Hey, lets try something else because this isn't working.

But, much like window dressing nothing of any substance will happen until they/we/us address
the fundamental flaws in the system.

That's not likely because of the political ramifications or, as Mike M. of Wayne's World said

"When frogs fly out of my ***"

roadrunner

Brown's resignation would be bullish for gold.....he won't be around anymore and therefore tempted to sell off the remaining UK gold.

Gold was starting to gain traction in 1999 and the UK sales ensured it didn't go anywhere until later in 2002.

roadrunner

Wolf359

<< <i>Re-arranging chairs on the Titanic... >>



Good one!

KUCH

The titanic is doomed! It may resurface and slowly be brought back to life in about 10 years (2020). Every option to fix the hole in the hull still brings about quantitative easing, very wet worthless fiat currency.